Hydro

Norsk Hydro receives latest $21mn insurance payout for 2019 cyber-attack

2020-10-24T18:04:00+01:00

Norsk Hydro received a further NOK 192mn ($21mn) insurance payout during the third quarter for the cyber-attack it suffered in March 2019, taking total recoveries from carriers for the event so far to NOK 715mn ($77mn).

Insurance Europe

Insurers hit out at EU green disclosure rules

2020-10-22T15:17:00+01:00

Insurers in the EU have hit out at plans from regulators for new disclosure rules for so-called green assets, arguing the templates for reporting the data are too long and complicated.

Coronavirus stocks

Euro P&C stocks mixed amid new pandemic restrictions

2020-10-22T12:34:00+01:00

European (re)insurance stocks seesawed between losses and gains in morning trading on Thursday amid investor concern over rising coronavirus cases on the continent and the possibility of new restrictions, while talks over US stimulus continued.

HDI

HDI acquires Amissima in Italy push

2020-10-22T06:53:00+01:00

HDI Assicurazioni, the Italian arm of HDI International AG, will acquire Italian non-life insurer Amissima Assicurazioni from Amissima Holdings for an undisclosed sum.

Munich Re

Low interest rates impacting reinsurers’ profitability: Munich Re’s Höpke

2020-10-19T18:09:00+01:00

The continuation of low interest rates in Europe as a result of Covid-19 is impacting the profitability of reinsurers and the cost of insurance coverage is expected to increase in response, Munich Re’s Doris Höpke has said.

Alexander Wiebe – HDI

HDI Global enters German fine art and HNW market with Axa’s Wiebe

2020-10-19T09:18:00+01:00

HDI Global Specialty SE is to enter the German fine art and high net worth (HNW) insurance market with the hire of Alexander Wiebe from Axa.

Tim Griffiths – Echo Re

Echo Re hires ex-Verto deputy CUO Griffiths to lead marine and energy

2020-10-19T06:45:00+01:00

Swiss reinsurer Echo Re has brought on board ex-Verto Syndicate 2689 deputy active underwriter Tim Griffiths as head of marine and energy underwriting.

Hannover Re

Hannover Re’s E+S Rück bullish on positive rate development in 2020

2020-10-19T07:02:00+01:00

Hannover Re’s German business subsidiary – E+S Rück – has forecast rising prices and improved conditions overall in property and casualty reinsurance in the German market in 2021 as the Covid-19 pandemic and continued decline in interest rates forces prices higher.

Insurance Europe

EU insurers warn on stress testing expense

2020-10-16T14:26:00+01:00

European insurers have hit out at proposed changes to the way in which the bloc’s industry regulator carries out market stress tests, saying the changes would be too complicated and costly to implement.

Axa and Uniqa

Axa completes €1bn sale of CEE operations to Uniqa

2020-10-16T07:03:00+01:00

Axa has completed the €1bn ($1.17bn) sale of its Central and Eastern European (CEE) operations to Uniqa, with the deal expected to improve the group’s Solvency II ratio by 2 percentage points in Q4.

Gabriel Bernardino - Eiopa

EU watchdog calls for greater power in wake of pandemic

2020-10-15T13:24:00+01:00

Europe’s insurance watchdog has called for greater powers to ensure that member states create a “level playing field” after carriers and national supervisors defied the regulator by failing to take a common approach to dividends during the coronavirus crisis.

Tony Rai – Aspen

Aspen names Hiscox’s Rai as UK head of claims

2020-10-15T12:22:00+01:00

Aspen Insurance Holdings has named Tony Rai as head claims for Aspen Insurance UK and Aspen Managing Agency Limited.

Toa Re Europe - Zurich

Toa Re adds life reinsurance to European platform

2020-10-15T12:11:00+01:00

Japanese reinsurer Toa Re is expanding its operations in Continental Europe by adding life reinsurance to its Zurich-based underwriting platform.

Brexit referendum uk 1468255044b ix

EU warns insurers on Brexit preparations

2020-10-14T07:07:00+01:00

European insurers have been warned by the Union’s industry watchdog to get their post-Brexit operations in order and to ensure they are fully prepared for the UK’s exit from the EU’s regulatory framework at the end of the year.

Generali

Generali Global Corporate & Commercial hands Moore UK branch manager role

2020-10-13T13:44:00+01:00

Generali Global Corporate & Commercial has named Alan Moore as UK branch general manager in addition to his role as head of Global Corporate & Commercial UK.

Swiss Re and Daimler

Swiss Re and Daimler launch mobility insurance MGA

2020-10-12T11:25:00+01:00

Swiss Re and German carmaker Daimler have launched Movinx, a Berlin-based managing general agent designed to transform and innovate automotive and mobility insurance.

Coverys – Lloyd's

Coverys appoints Ibba as CEO of AEC Group

2020-10-12T08:50:00+01:00

Coverys European Holding (CEH) has named Elisabetta Ibba as CEO of AEC Group, the MGA acquired by CEH in January.

Aon – Leadenhall Building

Aon and Goldman Sachs partner on captive investment service

2020-10-12T08:24:00+01:00

Aon has teamed up with Goldman Sachs on an investment service that will enable captive insurers to identify and access high-quality and yield-enhancing investments.

Stocks-on-the-rise

P&C stocks seesaw in Europe on slowing economic recovery

2020-10-09T11:55:00+01:00

European P&C stocks seesawed between the green and red on Friday following news the UK economy grew less than expected in August and as traders continued to mull the prospect of more fiscal stimulus measures in the US.

Graham Stait – Allianz

Allianz promotes Stait to head of claims operations

2020-10-09T06:53:00+01:00

Allianz Insurance has promoted supply chain head Graham Stait to head of claims operations.